Firstly there are no guarantees in this market but my instinct is the end of financial year is coming.
Cash is low and the equity capital markets are soft so a capital raising wouldn't be prefered. Doing a deal by the end of the financial year with a major would give away some of the upside but ensure project execution. If they don't do a deal they risk a "going concern" warning from their auditors.
The assets are very good, shallow and great technically for LNG production. On nearology they are completely surrounded by Shell, Arrow and PetroChina.
It could be one of these players or Origin. Domestic power companies are short of gas on this side of Australia. It's a marriage looking likely to occur.
We should see at the end of next week if my prediction plays out. Have a punt just don't bet your house on it.
Firstly there are no guarantees in this market but my instinct...
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Last
0.8¢ |
Change
0.001(14.3%) |
Mkt cap ! $43.37M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 0.8¢ | 0.7¢ | $117.5K | 14.89M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 32813136 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.8¢ | 11827281 | 9 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| ROG (ASX) Chart |